My son's phone decided to upgrade on it's own a few weeks ago, then got stuck in a "boot loop". I did a hard reset on it, and now it alternates between black screen and " initializing. We are preparing your phone." Or some such message. Now I'm completely clueless as what to do now. We live a good half hour from a VZW, not that they'll help anyway (tried last week). I hope someone on here can help!
Same thing happened to my LG G3 today. I have been holding off accepting the 24B update to see if there would be issues and Lo and Behold it did the update on it's own. Now I am getting the same problem as you roni_a, my phone would boot up and stay "usable" for a while then go on the Red Verizon Screen boot loop and stay there, with the battery heating up, the only way out is to take the battery out.
Tried the clear cache to no avail. I just wished Verizon just left this phone with KitKat, twas working fine until these 2 "updates". Now my phone IS UNUSABLE !!!
Lets work to get that phone working again. Make sure the phone is plugged in and try the steps listed here: http://www.verizonwireless.com/support/knowledge-base-112586/ Let us know what happens.
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My phone has the same issue with the newest update.
I have tried many things to get it to work, but everytime, it gets stuck in a bootloop, or , after a factory reset, it tries to load the "First Time Use" part where you connect your wifi and gmail, etc, but then the screen just goes black and locks up.
I have tried to update over the air twice, and once through the update tool you get when you plug your phone in. All failed. Also trying factory resets after these fails as well.
I also tried to flash a custom ROM (jasmine) on it that included the 24B update, but that had the same issue.
So, currently i have it flashed to a jasmine rom just before the 24B update so it doesn't auto update on me.